China leads by number of businesses opened in Uzbekistan in 2023, Russia second

TASHKENT. Jan 16 (Interfax) - The number of new businesses with Russian capital registered in Uzbekistan in 2023 fell 23% to 745 in 2023, the Central Asian country's statistics agency reported on its website.

As a result, China overtook Russia to become the leader by number of new businesses opened in Uzbekistan in 2023 with 854, 210% more than in 2022. Turkish investors were third with 364 businesses, 1% fewer than in 2022.

There were 3,044 businesses with Russian capital in Uzbekistan as of January 1, 2024, 3.5% fewer than a year earlier. But Russia continued to lead among countries whose investors have created businesses in Uzbekistan.

China was second with 2,377 businesses, followed by Turkey with 1,883, Kazakhstan with 1,064 and South Korea rounding out the top five with 736.

There were a total of 14,053 businesses with foreign capital in Uzbekistan as of January 1, 2024, 11.1% fewer than a year earlier.